You may want to head to your local post office sooner rather than later. The cost of Forever stamps is going up this month.

A first-class Forever stamp is 68 cents, but on July 14, the price will rise more than 7%, costing 73 cents a stamp, USA Today reported.

The United States Postal Service announced the increase in April and was approved by the Postal Service Governors in May.

The USPS said the increases for stamps and other services are part of the decade-long “Delivering for America” initiative introduced in 2021. The plan was developed to help make the postal service financially stable.

At the time the plan was announced, a stamp cost 55 cents.

The increase is expected to generate $44 billion in additional revenue by 2031, USA Today reported.

Other prices receiving adjustments include:

• Additional ounce for a letter increasing from 24 cents to 28 cents
• Metered 1-ounce letters will rise from 64 cents to 69 cents
• Domestic postcards will increase from 53 cents to 56 cents.
• International postcards will go up from $1.55 to $1.65.
• International 1-ounce letters will increase from $1.55 to $1.65
• Postal insurance will decrease by 10%

Post office rental fees will remain the same, while there will be “price adjustments” for other Special Services products such as Certified Mail and money orders.

No price increase is planned for USPS Ground Advantage, Priority Mail or Priority Mail Express, the USPS said.

Changes go into effect July 14.

© 2024 Cox Media Group